Sony will reportedly unveil a long-rumoured premium version of the PlayStation Network next month at the E3 Expo in Los Angeles.

According to VG247, a "highly placed" source has indicated that the subscription service will cost "less than £50 per year".

The insider claimed that subscribers will be able to choose one free PSN game every month from a list of "two to four" available titles.

Last December, a leaked market research survey indicated that the premium PSN could include online music services and cloud game storage.

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However, the industry source suggested that a rumour about cross-game chat being included in the subscription was "100%" wrong.

They said that the premium package would not impact on any of the free-to-access services currently available on the PSN, which echoes comments made last year by Sony Computer Entertainment boss Kaz Hirai.

At Sony's E3 press conference on June 15, the firm is also expected to unveil a Spotify-style music streaming service enabling users to play songs while gaming on the PSN.